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Avro Energy Review

Avro Energy Review - Avro Energy logo on TheEnergyShop.com

Our Verdict

Proceed with caution.

Please note that this message is not unique to Avro Energy but is issued for all new energy suppliers which have a limited track record, limited if any capital backing and which are unprofitable and / or have negative net assets. We are particularly cautious on those energy suppliers that take money from customer accounts before the customer comes on supply. We monitor new suppliers closely and should any of these circumstances change, for example a significant capital raise, then we will update our verdict accordingly.

Avro Energy is a new supplier which began taking on customers from 1 December 2015. Their claim is that they provide ""low priced energy in addition to simplicity with your supplier" which they aim to deliver by "maintaining a highly efficient business that keeps overheads to a minimum and is restrictive in the level of marketing commissioned".

While their prices are certainly competitive, Avro Energy, like many of the growing number of new energy suppliers that have entered the market recently, is very much an unproven entity. We are great believers in competition and also hugely admire the entrepreneurial spirit (we have built two start-ups ourselves). However, there are several things about Avreo Energy that make us cautious.

Firstly, they are somewhat enthusiastic in taking money from the customer's account. Your first direct debit is taken from your account at the end of the cooling off period. This is 14 days from application date. Physical supply however may not start until up to 21 days after payment is taken. This means that most customers pay up front before they are even on supply. This means that you, the customer, are effectively funding the working capital to run the business.

Secondly, the company has minimal financial backing. It has equity capital of just 100. To year-end 14 August 2015, the company reported negative net assets of (12,842). It is not unusual for a start up to incur losses; most do in setting up the business. However, with equity capital insufficient to cover these losses means that, should Avro Energy get into financial difficulties, then customers who have paid in advance, as unsecured creditors, risk losing those payments.


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Company Description

Avro Energy is a very new gas and electricity supplier that entered the domestic energy supply market in December 2015.

The Company operates from offices in Nuneaton, Warwickshire.

Avro Energy offers a simple range of tariffs for customers who want to pay by Monthly Direct Debit and to manage their account online.

Avro Energy offers electricity only and dual fuel tariffs. There is currently no gas only option.

Avro Energy does not at present supply prepayment meter customers.

Avro Energy is not signed up to the Warm Home Discount Scheme.


Service Rating

Avro Energy service rating on TheEnergyShop.com

Based on our review, we award Avro Energy no Stars.

Our service rating is based on the proportion of switches undertaken on the TheEnergyShop.com switching platform that complete successfully first time around. As we do not deal with Avro Energy for customer sign-ups we have no insights into how good or bad their processes are. As such we have not awarded them a service rating. Please note that this does not necessarily mean that they are poor but, if you are switching to them, you are strongly advised to do your own due diligence.


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Energy Switch Guarantee

Avro Energy is NOT signed up to the Energy Switch Guarantee.



Company Overview / History

Company nameAVRO ENERGY LIMITED
Company Number09174794
Registered Office AddressUnit 8, The Courtyard Goldsmith Way,
Eliot Business Park,
Nuneaton,
Warwickshire, CV10 7RJ
Date of incorporation14 August 2014
Directors (1)Jake Andrew Brown
Supply licence(s) granted27 July 2015
Began selling energy to domestic consumers1 December 2015

Fuel Mix Disclosure

All suppliers, including Avro Energy, are required to provide information about the mix of fuels they use to generate the electricity they supply to their customers. They also need to disclose the environmental impact of this fuel mix.

This information is known as the Fuel Mix Disclosure and is published annually.

Avro Energy has not yet published its fuel mix disclosure so we are unable to review it here.


Financials

In this section we review the published financial results for Avro Energy Limited.

Year ended14 August 2015
CustomersNot published
Income Statement£
RevenueNot published
Profit before taxNot published
Balance Sheet£
Fixed assets1,044
Net current assets(13,886)
Net assets(12,842)
Capital and Reserves£
Share capital100
Profit and loss account(12,842)

Source: Companies House


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